A North West motor group has accelerated its growth with the purchase of two Citroen car dealerships and an accident repair centre.
Meridian Group Limited acquired the three sites from John Wilding Limited for an undisclosed sum.
Commercial law firm Harrison Drury provided legal advice to John Wilding Limited on the sale of the dealerships, which allow owner and managing director Adrian Wilding to exit the business.
The branches, located in Kendal and Morecambe, will eventually be rebranded to trade under Meridian’s ‘Vantage Group’ name and all staff will be retained as part of the deal.
David Filmer, head of mergers and acquisitions at Harrison Drury, said: “This deal has allowed Adrian to enter retirement and realise the value of the business after 45 successful years in operation in the family.
“The dealership business sells around 1500 new and used cars every year and will be an excellent addition to Meridian Group’s portfolio as it continues to expand its presence in the North West.”
The John Wilding deal is the latest in a string of acquisitions by Harrogate-based Meridian Group and will contribute an additional £12million to the group’s turnover.
Meridian Group employs 400 people at its 18 branches throughout the North West, including sites at Grange-over-Sands, Preston, Colne, Blackburn, Stockport, Salford and Oldham.